Moran Wealth Management LLC Buys 63,993 Shares of Interactive Brokers Group, Inc. $IBKR

Moran Wealth Management LLC increased its stake in Interactive Brokers Group, Inc. (NASDAQ:IBKR) by 62.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,986 shares of the financial services provider’s stock after buying an additional 63,993 shares during the period. Moran Wealth Management LLC’s holdings in Interactive Brokers Group were worth $11,133,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBKR. Norges Bank bought a new position in Interactive Brokers Group in the 4th quarter worth about $453,146,000. Orbis Allan Gray Ltd raised its stake in shares of Interactive Brokers Group by 178.8% during the second quarter. Orbis Allan Gray Ltd now owns 9,740,072 shares of the financial services provider’s stock valued at $539,697,000 after acquiring an additional 6,246,715 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Interactive Brokers Group by 225.4% in the second quarter. Bank of America Corp DE now owns 7,594,906 shares of the financial services provider’s stock valued at $420,834,000 after purchasing an additional 5,260,923 shares during the period. State Street Corp boosted its holdings in shares of Interactive Brokers Group by 23.2% in the third quarter. State Street Corp now owns 18,648,758 shares of the financial services provider’s stock valued at $1,283,221,000 after purchasing an additional 3,517,729 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Interactive Brokers Group by 44.1% in the fourth quarter. Invesco Ltd. now owns 8,288,379 shares of the financial services provider’s stock valued at $533,026,000 after purchasing an additional 2,534,772 shares during the period. Institutional investors own 23.80% of the company’s stock.

Interactive Brokers Group Stock Performance

NASDAQ:IBKR opened at $91.33 on Friday. The company’s 50-day simple moving average is $86.64 and its 200-day simple moving average is $76.40. Interactive Brokers Group, Inc. has a fifty-two week low of $56.33 and a fifty-two week high of $97.84. The stock has a market capitalization of $154.93 billion, a P/E ratio of 39.37, a P/E/G ratio of 2.52 and a beta of 1.33.

Interactive Brokers Group (NASDAQ:IBKR) last posted its quarterly earnings data on Tuesday, April 21st. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. Interactive Brokers Group had a net margin of 9.65% and a return on equity of 5.19%. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.69 billion. During the same quarter in the previous year, the business posted $1.94 EPS. Interactive Brokers Group’s revenue was up 17.0% on a year-over-year basis. On average, research analysts forecast that Interactive Brokers Group, Inc. will post 2.46 EPS for the current year.

Interactive Brokers Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Monday, June 1st were given a dividend of $0.0875 per share. The ex-dividend date of this dividend was Monday, June 1st. This is a boost from Interactive Brokers Group’s previous quarterly dividend of $0.08. This represents a $0.35 dividend on an annualized basis and a dividend yield of 0.4%. Interactive Brokers Group’s payout ratio is currently 15.09%.

Insider Activity at Interactive Brokers Group

In other news, Director Lawrence E. Harris sold 26,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $76.93, for a total transaction of $2,000,180.00. Following the completion of the sale, the director owned 173,482 shares in the company, valued at approximately $13,345,970.26. This represents a 13.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Wall Street Analyst Weigh In

IBKR has been the topic of several research reports. Keefe, Bruyette & Woods started coverage on Interactive Brokers Group in a report on Wednesday, April 8th. They set a “market perform” rating and a $75.00 price objective on the stock. Weiss Ratings cut Interactive Brokers Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday. BMO Capital Markets increased their price target on Interactive Brokers Group from $80.00 to $93.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group cut their price target on Interactive Brokers Group from $91.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. Finally, Wolfe Research started coverage on Interactive Brokers Group in a report on Monday, June 8th. They issued an “outperform” rating and a $101.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.22.

Interactive Brokers Group Company Profile

Interactive Brokers Group, Inc (NASDAQ: IBKR) is a global electronic brokerage holding company that provides trading, clearing and custody services to retail traders, institutional investors, proprietary trading groups and financial advisors. The firm offers direct access to a wide range of asset classes, including equities, options, futures, foreign exchange, bonds and exchange-traded funds across many international markets. Interactive Brokers emphasizes electronic order execution, automated trading and low transaction costs as core differentiators for its clients.

Its product suite centers on advanced trading platforms and infrastructure.